Tag Archive

Sinopec, CNPC Stop Buying Iranian Oil In May

Sinopec, CNPC Stop Buying Iranian Oil In May

May 12, 2019 No Comments

China’s two largest oil companies, CNPC and Sinopec have not ordered any Iranian oil cargoes to load this month after the expiry of the sanction waivers Washington had granted China and seven other Iranian oil importers, Reuters reports, citing unnamed sources. The news comes despite statements from Beijing that it will not comply with the U.S. […]

Reliance Media Statement Regarding Venezuelan crude

Reliance Media Statement Regarding Venezuelan crude

April 25, 2019 No Comments

Press stories suggesting that Reliance is involved in an arrangement that leads to cash payment for oil supplies to PDVSA via third parties are false and reckless. Reliance has purchased Venezuelan crude oil from companies such as ROSNEFT long before the imposition of US sanctions, as they do get title to Venezuelan oil in return […]

Iran warns of ‘war situation’ as U.S. sanctions resume

Iran warns of ‘war situation’ as U.S. sanctions resume

November 5, 2018 No Comments

Iran greeted the re-imposition of U.S. sanctions on Monday with air defense drills and an acknowledgement from President Hassan Rouhani the nation faces a “war situation,” raising Mideast tensions as America’s maximalist approach to the Islamic republic takes hold. The sanctions end all the economic benefits America granted Tehran for its 2015 nuclear deal with […]

Will Iran’s Oil Exports Fall To Zero?

Will Iran’s Oil Exports Fall To Zero?

October 31, 2018 No Comments

The deadline for implementation of U.S. sanctions on Iran is just days away, and the Trump administration is having second thoughts about how hard to press the Islamic Republic. More accurately, there seems to be disagreement from within the Trump administration. According to the Wall Street Journal, Secretary of Treasury Steven Mnuchin is leaning towards […]

Iran And Saudi Arabia Reignite The Oil Price War

Iran And Saudi Arabia Reignite The Oil Price War

August 14, 2018 No Comments

The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil. Saudi Arabia, OPEC’s largest producer, has been boosting oil production to […]

Venezuela Tries To Pay Russian Debt With Cryptocurrency

Venezuela Tries To Pay Russian Debt With Cryptocurrency

March 29, 2018 No Comments

If crisis-hit Venezuela was hoping to pay off its US$3.15-billion debt to Russia with its new cryptocurrency, those hopes have been shattered as the Russian Finance Ministry announces that it won’t be accepting digital coin. Venezuela will not be paying any part of its debt to Russia with its cryptocurrency, the head of the Russian […]

Sudan and South Sudan

Sudan and South Sudan

March 5, 2018 No Comments

South Sudan gained independence from Sudan in July 2011. Although most of the oil production capacity in those two countries is in South Sudan, the country is landlocked and remains dependent on Sudan’s export pipelines and port. Civil unrest, disagreements over oil revenue sharing, and border disputes have curtailed oil production and investment in both […]

Most Big Banks Are Now Bullish On Oil

Most Big Banks Are Now Bullish On Oil

February 6, 2018 No Comments

This time last year, all the big banks that OPEC and Russia took by surprise a month earlier by agreeing to an oil production cut were wondering just how long the agreement would last. The overwhelming opinion was one of skepticism. The deal would break apart in a few months, analysts said, or producers would […]